Questions answered by tax and business professionals.

Yes, books can be corrected, but changes affecting a filed return may require a tax professional to assess an amendment or other response. Preserve the original records and corrections.

Seek help if accounts do not reconcile, tax balances look wrong, transactions remain uncategorized, or reports cannot be trusted. Cleanup is easier with complete source documents.

A payroll register summarizes gross pay, deductions, employer costs, and net pay. Reconcile it with bank payments and payroll liability accounts.

Physical counts help compare actual stock with recorded inventory and identify loss, damage, or recording mistakes. Establish a repeatable count procedure.

Record gross sales, refunds, fees, sales tax, and net deposits separately. Reconcile processor reports with bank deposits and sales records.

Record card purchases as individual expenses or assets and the payment as a transfer that reduces the card balance. Otherwise expenses may be counted twice.